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We attempt to trace the Hyundai crisis back to its roots with the following questions in mind. What actions taken by the Hyundai Group since its birth contributed to Hyundai's post-1997 afflictions and to the split and the subsequent fall of the parent group? What changes in the corporate environment, in particular, the changes in business-government relationships, brought on by the national financial crisis of 1997 determined the Hyundai Group's fate? The Hyundai crisis was ultimately a testdoi:10.1017/s1598240800000758 fatcat:qigqrsuil5cn5jnmitrxybgqmq